In Short:
Deloitte aims to quadruple its revenue from India to $5 billion by 2030, according to South Asia CEO Romal Shetty. The firm’s Indian revenue hit ₹10,000 crore in 2023-24, marking a 30% growth and contributing significantly to global and Asia Pacific revenues. Deloitte also plans to enhance its market presence while reducing employee turnover from 29% to 13%.
**Deloitte Aims for Remarkable Growth in India**
In an exciting move, global accounting giant **Deloitte** has set its sights on an ambitious goal: a fourfold increase in revenue from its operations in **India**, bringing it to a remarkable $5 billion (approximately ₹40,000 crore) by the year 2030. This bold vision was shared by **Romal Shetty**, CEO of Deloitte South Asia, who emphasized the firm’s commitment to becoming the “undisputed leader” in professional services.
**2023-24: A Milestone Year**
Deloitte’s India business reached a significant milestone in the fiscal year 2023-24, achieving revenues of ₹10,000 crore, marking a substantial growth of 30% compared to the previous year. This impressive leap not only highlights the firm’s strong performance but also its crucial role in the broader context of Deloitte’s global ambitions.
**Key Contributions to Global Growth**
It’s noteworthy that Deloitte India is making a significant impact internationally, contributing 10% to the firm’s global revenue growth and an astonishing 70% to the growth in the **Asia Pacific** region.
For the fiscal year ending May 31, 2024, Deloitte’s overall global revenue increased by 3.6%, reaching a total of $67.2 billion. Shetty expressed pride in this performance, stating, “We disrupted the marketplace in 2023-24 with our ₹10,000 crore revenue. Our aim is to not only lead the professional services sector but to do so with a commitment to quality, a strong brand reputation, well-being, and scalability. Our definition of success includes being a kind-hearted, high-performing, and innovative firm.”
**Engagement and Retention Efforts Paying Off**
Another significant highlight from Shetty’s address was the remarkable drop in attrition rates within Deloitte India. The figure fell from 29% to just 13% in 2023-24, showcasing a successful strategy for retaining talent. This is especially noteworthy when compared to the average attrition rate of 20% among the ‘Big Four’ global accounting firms.
- Also read: AI will spur new jobs, roles but may impact repetitive, commoditised tasks: Deloitte South Asia CEO
- Also read: Auto component maker Bosch not yet eligible for PLI scheme: Government official
